Ukraine’s financial services market is celebrating the emergence of another unicorn, with Fintech-IT Group, the tech company behind one of the country’s top online banking services, achieving a valuation exceeding $1 billion following a significant investment.
The funding was provided by the US-registered Ukraine-Moldova American Enterprise Fund (UMAEF). Fintech-IT Group’s flagship product, the “mono ecosystem,” serves as the IT backbone for Universal Bank, which has rapidly become the second-largest bank in Ukraine in less than eight years since its launch.
Co-founders Oleg Gorokhovskyi and Mykhailo Rogalskyi expressed gratitude to UMAEF for their trust and support, stating, “We believe this partnership opens new horizons for product and technology development that will bring even greater benefits to our customers. Most importantly, even during a full-scale war, a leading U.S. investor is ready to invest in Ukraine’s economy — and that is a powerful signal.”